Press and Business: Cooperative and Sharing

1:39:07 PM | 7/26/2019

In the course of developing production and business and contributing to Vietnam's sustainable economic development, the press is both an effective information channel that delivers Party and State policies and mechanisms and is a useful tool to introduce and promote corporate images and brands. At the same time, businesses and entrepreneurs are also sources of inspiration and rich topics for the press. It is a two-way relationship that is increasingly close and effective.

Bridge for government and business

Journalist Ho Quang Loi, Standing Vice President of the Vietnam Journalists Association, said, for the business, the press writes on the business environment, outstanding achievements, good models, and good business experience. It plays an important role in creating a healthy business environment, becoming a bridge for the government and the business and for the business and the community. By and large, no company is successful without press relations.

The cause of national construction by enterprises and entrepreneurs is an interesting topic for the press, he added. Their activities are a source of living materials and a source of fund for the press to live on. The press - business relationship is healthy and objective and increasingly sharing. This sharing is an opportunity for businesses and for the press as well and press development also helps business development.

Dr. Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI), said the press has been deeply involved in enterprises and entrepreneurs. The press - business relationship is also symbiotic, with the press pioneering in cultural aspects and business taking the lead on the economic front. Therefore, it is understandable that the press dedicatedly focuses on enterprises and vice versa.

“Furthermore, the press shares both bad and good things with the business. When the latter is fraught with unjust cases and they will knock on the press to inform the case for justice. Not only protecting the latter, the former also always cooperates with the latter to promote institutional reform,” he said.

However, the press also caused many unjust and wrongful mistakes to businesses when their images were wrongly reflected, Dr. Loc admitted.

Power from information technology

“The new and most important point in the business - press relationship is to place it in the context of the scientific and technical revolution. This is a new challenge for the press although it is not new to content but new to speed because the speed is ‘dizzy’, said Lawyer Tran Huu Huynh, Chairman of the Vietnam International Arbitration Center (VIAC).

7th selection of press articles on enterprises, entrepreneurs and business climate

In order to encourage and inspire enterprises and entrepreneurs to make great contributions to the country's socioeconomic development in regional and international integration and honor journalists who always work side by side with businesses and entrepreneurs, Business Forum Newspaper - Vietnam Chamber of Commerce and Industry has launched the 7th Program for selection of press articles on enterprises, entrepreneurs and business environment. The time for application: From July 17, 2019 through September 15, 2019 (based on postmark).

This is really a challenge for the press against information technology products, he said. In that challenge, is the business inclined to the press or does it use the power of social networking? This is a question and journalists must find answers and solutions for businesses.

Another challenge, according to Huynh, is the change in integration policy and context. Integration of too fleeting speed and too broad scope is beyond the ability and capacity of enterprises. The press needs to delve into these issues. In addition to that is challenges from social networks. How can the press become a ‘knight’ to save enterprises if they are unjustly named?

To address these challenges, according to Mr. Huynh, the press must be ‘brighter’, or in other words, deal with the issue more quickly. The press must be ‘cleaner’ because society is highly divided. The business community is also divided and the nature will be more complicated.

Moreover, the press must be ‘sharper’ and more distinctive for millions of businesses to get it to have accurate information in a timely manner when they are involved in problems.

In particular, the press must be more reliable, Huynh said. In the context of information mess, the press must be more selective. This is a competitive struggle for readers with social networks. If the press is not reliable, it will impossibly catch the attention of readers.

Mr. Le Quoc Vinh, Chairman of Le Bros Media Group

We are facing challenges: The press must be of quality but it must also subsist and make money. There are a lot of contradictions in this fact. To make money, we cannot allow reporters to deliver dishonest information that damages businesses and we cannot compromise if they are wrong. So, how can the press make money?

The total revenue of the press was VND15,000 billion in 2018, according to the Ministry of Information and Communications and the Propaganda Bureau. However, press revenue kept declining seriously while Google and Facebook are increasing their revenue quickly.

Advertising revenue slumped because about 60-70% of corporate advertising costs went to Google and Facebook. While businesses are growing up and their communication costs are on the rise, the share of the press is shrinking sharply, to only 30%. For the time being, enterprises do not fully understand the benefits of the mainstream media.

In the midst of Media 4.0, corporate brands are seeking for useful communication platforms to highly interact with their customers and readers, no longer merely advertising. For that reason, the press must create what businesses need and what they want to communicate, for example Build Human Brands style. This is a press-like communication method that creates an emotion for business brands. The press must create such interactive storytelling to meet business needs. Enterprises need the press to understand and convey their stories through storytelling with beautiful images.

Mr. Nguyen Van Ve, Chairman of the Thai Binh Business Association

Nearly 40 years as an entrepreneur, we have never seen the business environment as open as it is now. Entrepreneurs have never been praised properly, rewarded in time, and recognized as now. To have this, we recognize and highly appreciate the press for its suggestions and participations in drafting bills and its fights against bad deeds to form a better environment for businesses. At the same time, the press has honored and branded the business very well.

In addition, the press not only propagandizes information but also consults support for businesses. We have more than 700,000 enterprises but most of them micro, small and medium-sized enterprises with incomplete knowledge of governance. The press itself has provided very practical information and made very useful forecasts for reference to businesses.

Notably, businesspeople are deeply aware and they come to the press and lawyers for sharing when they encounter difficulty. This is a token of trust. Many businesses also go to the press to make their brands and products known domestically and internationally.

Nevertheless, a small part of this cooperation is not really open but that is only a tiny part in a great landscape of this relationship.

Mr. Dam Quang Thang, Chairman of the Hanoi Agrochemical Business Association

Small and medium-sized enterprises (SMEs) are much disadvantaged and they are little informed to the public. I hope that the press to pay more attention to SME development, enhance their positions and support them to grow up.

Our business relates to chemicals but the society has a very different view on chemicals. Therefore, I hope that the press will have a new different look on plant protection chemicals because their articles sometimes have big impacts on businesses.

Anh Mai